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Sources say that Germany is planning to take a majority stake in the troubled cruise shipbuilder.

Posted to Maritime Reporter on August 22, 2024

Sources familiar with the situation said on Thursday that the German government intends to buy a majority stake in Meyer Werft - one of the top cruise ship builders in the world - as part of its support for the company. Sources said that Chancellor Olaf Scholz…

China claims it has monitored and warned the US destroyer that was in the Taiwan Strait

Posted to Maritime Reporter on August 22, 2024

China's military claimed that it had warned and monitored a U.S. destroyer Thursday as it crossed the Taiwan Strait, the latest time that the waterway has been traversed in a sensitive manner. China asserts that it has jurisdiction in the Taiwan Strait. In a press release, the 7th Fleet of the U.S.

Grain-World supply of wheat is down to a large extent; corn and soybeans are on the rise

Posted to Maritime Reporter on August 21, 2024

Chicago Board of Trade Wheat Futures declined on Wednesday, as world supplies were heavy and Black Sea exports were cheap. Prices fell ahead of an upcoming rail strike in Canada on Thursday. Chicago soybeans ticked up as the U.S. Agriculture…

EU wheat reaches new 5-month low due to Black Sea pressure

Posted to Maritime Reporter on August 21, 2024

Euronext Wheat prices fell on Wednesday to their lowest level in five months as the strength of the euro and cheaper Black Sea wheat supplies pushed down prices. The December wheat position, which was the most active on Paris' Euronext exchange…

Canada - Aug 21

Posted to Maritime Reporter on August 21, 2024

These are some of the most important stories in selected Canadian newspapers. These stories have not been verified and we cannot vouch for the accuracy of these stories. Data released on Tuesday showed that Canada's annual rate of inflation slowed to a low of 2.5%, which was in line with forecasts.

Clifford Chance shocked after missing lawyer in yacht accident

Posted to Maritime Reporter on August 20, 2024

A prominent New York attorney who is one of six passengers missing from a sunken boat off the coast of Italy was travelling with his longtime British client, British technology entrepreneur Mike Lynch. This happened just weeks after he helped him avoid conviction for a 12-year legal battle.

Fertilizers Canada estimates that rail shutdowns could cost the industry C$63 million a day

Posted to Maritime Reporter on August 20, 2024

Fertilizer Canada warned that disruptions to all rail services in Canada will cost the industry between C$55 ($40.34) and C$63 ($46.21) million in lost revenue. This does not include logistical or operational costs. Canada is the world's largest exporter and producer of potash…

Paris wheat falls to 5-month-low as Euro and Black Sea competition weigh

Posted to Maritime Reporter on August 19, 2024

Euronext Wheat fell Monday to a five-month new low, as the gains in the dollar against the euro highlighted the export struggles of western European wheat in comparison with cheaper Black Sea wheat. The poor harvests in France, Germany and other…

Source: UK's Mike Lynch is missing after his yacht sinks in Sicily

Posted to Maritime Reporter on August 19, 2024

A person familiar with the search operation reported that British tech entrepreneur Mike Lynch was missing on Monday after his luxury yacht was hit by a violent thunderstorm and sank near the Sicilian capital Palermo. Lynch, 59 years old, was…

Norfolk Southern shuts down all intermodal facilities ingates with Canadian National

Posted to Maritime Reporter on August 16, 2024

Norfolk Southern announced on Friday that it will close all intermodal facility gates to Canadian National Railway immediately, due to an embargo placed by the Canadian railway on all its intermodal shipments. The embargo began on Friday after…

EU wheat rebounds from 5-month lows, led by a front-month flurry

Posted to Maritime Reporter on August 16, 2024

Euronext wheat recovered from near five-month-lows on Friday, led by technical gains in the front-month contracts, although cheaper Black Sea supplies restricted gains and distracted attention from poor harvests across western Europe. Euronext December wheat was up 1.6% at 219…

EU wheat drops to four-month-low as Black Sea competition persists

Posted to Maritime Reporter on August 14, 2024

Euronext Wheat fell for the third day on Tuesday, to its lowest level in over four months. Traders said that competition from cheaper Black Sea wheat supplies outweighed disappointing western European harvests. The December wheat price on Euronext was 1.3% lower at 219…

EU wheat prices slip as Black Sea supplies weigh

Posted to Maritime Reporter on August 13, 2024

Euronext Wheat Futures fell on Tuesday for the second day in a row as Egypt's ongoing efforts to secure supply highlighted the availability of Black Sea wheat at lower prices. December wheat, which was the most actively traded position on Paris' Euronext exchange…

Blackstone sells 3,300 UK homes to USS Pensions

Posted to Maritime Reporter on August 13, 2024

Blackstone, a private equity firm, announced Tuesday that it had sold 3,00 shared-ownership houses to Britain's largest private pension fund. This is a sign that big money managers are increasingly making deals in the UK housing industry. Blackstone…

UKMTO reports that a ship captain reported an incident southwest of Yemen’s Hodeidah.

Posted to Maritime Reporter on August 12, 2024

The United Kingdom Maritime Trade Operations agency (UKMTO), said Tuesday, that a ship's crew reported an explosion 63 nautical mile southwest of Yemen's Hodeidah. In a note of advice, the agency stated that the vessel and crew were safe and that the ship was proceeding to the next port.

EU wheat prices fall as Egypt's Black Sea competition highlights the Black Sea Competition

Posted to Maritime Reporter on August 12, 2024

European wheat futures declined on Monday, as an Egyptian import bid kept attention on the competitive Black Sea supply. However, unexpected downward revisions in U.S. corn and wheat supply forecasts limited losses. December wheat, which was…

EU wheat prices fall as Egypt's Black Sea competition highlights the Black Sea Competition

Posted to Maritime Reporter on August 12, 2024

European wheat futures declined on Monday, as an Egyptian import bid kept attention on the competitive Black Sea supply. Expectations that U.S. crop forecasts would increase in a report by the government also weighed on sentiment. The December wheat position…

US announces publically that it is moving a submarine to the Middle East amid tensions between Israel and Iran

Posted to Maritime Reporter on August 11, 2024

The Pentagon announced on Sunday that U.S. Secretary of Defense Lloyd Austin had ordered the deployment of an guided missile submarine in the Middle East. This comes as the region prepares for possible attacks from Iran and its allies following the death of senior Hamas and Hezbollah members.

PARIS OLYMPICS: What you should know now

Posted to Maritime Reporter on August 11, 2024

After a successful Games in France that helped revive the Olympic brand, Paris has handed the baton over to Los Angeles. In a nail-biting women's basketball match against France, the United States won the final gold medal of the Games and moved ahead of China on the medal table.

PARIS OLYMPICS: What you should know now

Posted to Maritime Reporter on August 11, 2024

Sifan Hassan took the gold medal in the women's race, achieving an Olympic record of 2 hours, 22 mins and 55 secs. It was her first medal on the final day of the Olympics in 2024, when more than a dozen were up for grabs. After a successful Games in France that helped revive the Olympic brand…

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